The following summary financial statement information is provided for Denbury Industries:**2024 Financial Data:**- **Cash and cash equivalents:** $239,850- **Short-term investments:** $25,640- **Accounts receivable:** $658,930- **Inventory:** $345,920- **Property, plant, and equipment:** $859,710- **Long-term investments:** $83,670- **Total assets:** $2,213,720**2023 Financial Data:**- **Cash and cash equivalents:** $368,740- **Short-term investments:** $18,740- **Accounts receivable:** $690,760- **Inventory:** $415,380- **Property, plant, and equipment:** $735,480- **Long-term investments:** $65,300- **Total assets:** $2,294,400**Additional Information:**- **Net income (2024):** $279,630- **Net income (2023):** $199,850- **Interest expense (2024):** $39,540- **Interest expense (2023):** $25,670- **Investment income (2024):** $5,750- **Investment income (2023):** $3,170**Task:**Calculate the return on investments ratio for 2024.**Additional Feature:**- **Multiple Choice:** Includes an option for a selection of 2.5%.---**Explanation:**The financial statement lists various asset categories and their values for 2023 and 2024. It also includes a brief section on income and expenses, showing changes over the two years. The task requires calculating the return on investments ratio for the year 2024.

Ratio analysis helps to analyze the financial statements of the company. Management can make…

The following summary financial statement information is provided for Denbury Industries: Cash and cash equivalents Short-term investments Accounts receivable Inventory Property, plant, and equipment Long-term investments. Total assets Net income Interest expense Investment income. 2024 2023 $ 239,850 $ 368,740 25,640 18,740 658,930 690,760 345,920 415,380 859,710 735,480 83,670 65,300 2,213,720 2,294,400 $ 279,630 $ 199,850 39,540 25,670 5,750 3,170 Calculate the return on investments ratio for 2024.

The following summary financial statement information is provided for Denbury Industries: Cash and cash equivalents Short-term investments Accounts receivable Inventory Property, plant, and equipment Long-term investments. Total assets Net income Interest expense Investment income. 2024 2023 $ 239,850 $ 368,740 25,640 18,740 658,930 690,760 345,920 415,380 859,710 735,480 83,670 65,300 2,213,720 2,294,400 $ 279,630 $ 199,850 39,540 25,670 5,750 3,170 Calculate the return on investments ratio for 2024.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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